# Canadian Dollar Plunges As Investors Seek Shelter in Greenback Amid Market Selloff

> The Canadian dollar fell as investors sought the safety of the US dollar amid a broad selloff in financial markets. Canadian data showed retail sales edged up 0.1% in February, producer prices rose 18.5% year on year in March, and headline CPI reached 6.7%.

- Date: 2022-04-22 · published 2022-04-22T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/42111-canadian-dollar-plunges-as-investors-seek-shelter-in-greenback-amid-market
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A risk-off move that strengthens the US dollar tends to weigh on commodity prices in general, and Canadian inflation data points to rising costs for Canadian agricultural producers.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- fxdailyreport.com: https://fxdailyreport.com/canadian-dollar-plunges-as-investors-seek-shelter-in-greenback-amid-market-selloff/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.